The Leader of the Movement for Change, Alan Kyerematen, has attributed the rapid depreciation of the Cedi to the consequence of an inherent systemic failure and a lack of faith in the economy.
Alan Kyerematen warns that the Cedi’s decline may continue if Ghana fails to increase its exports and decrease its reliance on imports.
While touring the Eastern Region on Monday, June 3, 2024, Mr. Kyerematen suggested some strategies as part of his campaign to restore the Cedi’s value.
According to him, regulating forex bureaux activities and expanding exports are crucial steps towards stabilizing the Cedi.
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“The strength of the cedi is dependent on the demand and supply of foreign exchange. There is no other way unless you produce and export. Because if you don’t produce and use that to export abroad you won’t get dollars into the system but have you heard a head of state talk about this before? So it is a systemic failure for a long time,” Mr. Kyerematen said.
He added that, compared to other presidential aspirants, he possesses the expertise and vision to address the cedi’s decline.
“So between Alan, ex-president Mahama and Dr Bawumia, if its production and exports that would revive the cedi, who amongst the three of us can do that? If we have made that mistake all these years and we now need someone who can do this then it is Alan who can do that,” he said.
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Alan Kyerematen further called on Ghanaians to move beyond unfulfilled campaign promises.
“When you listen to the majority, they say when NDC was in power and NPP are in government, it is a winner-takes-all situation. If one party assumes office for eight years and you are not part of the party, then you are not part of the government. So the intelligence of many Ghanaians is disregarded in the governance of the country because it is winner-takes-all,” he said.
He advised Ghanaians to focus on a comprehensive national development plan, promising that a government under the Movement for Change would prioritize meaningful constitutional reforms.
“If these two parties are in government, they work on projects either good or bad even if the other had already started the same. If there is no continuity, how do we move forward? Ghanaians are tired, they want a plan not promises. So we want to move Ghana beyond the manifesto promises, we want a national plan where Ghanaians are in the know of where the country is headed. For the next 30 to 50 years, every party that assumes office would continue with whatever they meet,” he added.
